B. Riley Weighs in on Altus Power's Q3 Earnings (NYSE:AMPS)

Altus Power, Inc. (NYSE:AMPS - Free Report) - Stock analysts at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for shares of Altus Power in a note issued to investors on Wednesday, October 16th. B. Riley analyst R. Pfingst now anticipates that the company will post earnings of $0.04 per share for the quarter, down from their prior forecast of $0.05. B. Riley currently has a "Strong-Buy" rating on the stock. The consensus estimate for Altus Power's current full-year earnings is $0.08 per share.

Altus Power (NYSE:AMPS - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The company had revenue of $52.46 million for the quarter, compared to analysts' expectations of $57.61 million.

A number of other research firms have also recently commented on AMPS. Maxim Group lowered their price target on Altus Power from $5.50 to $4.50 and set a "buy" rating on the stock in a report on Monday, August 12th. Morgan Stanley cut Altus Power from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Roth Mkm reaffirmed a "buy" rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday. Finally, UBS Group reduced their price objective on Altus Power from $5.50 to $5.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $6.00.

Altus Power Price Performance

NYSE AMPS traded down $0.16 during trading hours on Thursday, reaching $3.60. The company's stock had a trading volume of 1,157,300 shares, compared to its average volume of 1,074,718. The firm's 50-day moving average price is $3.15 and its 200-day moving average price is $3.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The company has a market capitalization of $578.42 million, a price-to-earnings ratio of -72.00 and a beta of 0.96.

Hedge Funds Weigh In On Altus Power

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Altus Power by 135.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company's stock valued at $96,000 after purchasing an additional 17,368 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Altus Power by 14.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 297,713 shares of the company's stock valued at $1,167,000 after purchasing an additional 38,272 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Altus Power during the 2nd quarter valued at approximately $68,000. Long Focus Capital Management LLC increased its position in shares of Altus Power by 427.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company's stock valued at $2,152,000 after purchasing an additional 445,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Altus Power by 24.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company's stock valued at $125,000 after purchasing an additional 6,209 shares during the last quarter. Institutional investors own 46.55% of the company's stock.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.